New Mountain Finance Corporation (NASDAQ:NMFC) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET

Company Participants

John Kline - President, CEO & Director
Kris Corbett - CFO & Treasurer
Steven Klinsky - Chairman
Laura Holson - COO

Conference Call Participants

Finian O'Shea - Wells Fargo
Bryce Rowe - B. Riley Securities
Robert Dodd - Raymond James
Paul Johnston - KBW

Operator

Good day, and welcome to the New Mountain Finance Corporation Second Quarter 2024 Earnings Call. [Operator Instructions]. Please note this event is being recorded.

I would now like to turn the conference over to John Kline, President and CEO of New Mountain Finance Corporation. Please go ahead.

John Kline

Thank you, and good morning, everyone. Welcome to New Mountain Finance Corporation's second-quarter 2024 earnings call. On the line with me here today are Steve Klinsky, Chairman of NMFC and CEO of New Mountain Capital; Laura Holson, COO of NMFC; and Kris Corbett, CFO and Treasurer of NMFC.

Steve is going to make some introductory remarks, but before he does, I'd like to ask Kris to make some important statements regarding today's call.

Kris Corbett

Thanks, John. Good morning, everyone. Before we get into the presentation, I would like to advise everyone that today's call and webcast are being recorded. Please note that they are the property of New Mountain Finance Corporation and that any unauthorized broadcast in any form is strictly prohibited. The information about the audio replay of this call is available on our July 31 earnings press release.

I would also like to call your attention to the customary Safe Harbor disclosures in our press release and on pages two and three of the slide presentation regarding forward-looking statements.

Today's conference call and webcast may include forward-looking statements and projections, and we ask that you refer to our most recent filings with the SEC for important factors that could cause actual results to differ materially from those statements and projections. We do not undertake to update our forward-looking statements or projections unless required to by law.

To obtain copies of our latest SEC filings and to access the slide presentation that we'll be referencing throughout this call, please visit our website at www.newmountainfinance.com.

At this time, I'd like to turn the call over to Steve Klinsky, NMFC's chairman, who will give some highlights beginning on page 5 of the slide presentation. Steve?

Steven Klinsky

Thanks, Kris, both as NMFC's chairman and as a major fellow shareholder. Adjusted net investment income for the quarter was $0.36 per share, in line with our implied guidance and more than covering our $0.32 per share regular dividend that was paid in cash on June 28. Our net asset value per share of $12.74 was roughly flat, with only a $0.03 decline or 0.2%, demonstrating continued stable credit performance across our portfolio.